Amazon to Add 3M Nvidia GPUs, Targets $1T Revenue by 2028
AMZN sits 31% above its 52-week low of $196.
Summary
Amazon is scaling its AI infrastructure aggressively, planning to add 3 million Nvidia GPUs by 2028, including 2 million in 2027-28 on top of 1 million already planned for 2026. The company will deploy Blackwell and Rubin GPUs, integrate Vera CPUs and memory, and reserve 100,000 GPUs for federal security. Capex is forecast at about $700 billion in 2026, rising toward $1 trillion in 2027, underscoring the capital intensity of its AI buildout. FactSet projects Amazon will hit $1 trillion in revenue by 2028, with AWS growing from $174 billion in 2026 to about $320 billion in 2028 and retail near $800 billion. Separately, a California judge tentatively denied the state's injunction request in its price-pressure case against Amazon, citing weak evidence, with trial set for January. Citizens analyst Andrew Boone raised his price target to $315, citing stronger AWS demand from OpenAI and Anthropic. This follows Amazon's Q2 2026 results, which showed AWS growth accelerating to 37% and net income of $62.6 billion, though free cash flow was negative $7.6 billion due to heavy AI investment.
At the time of this announcement, AMZN was trading at $256.22 on NASDAQ in the Technology sector, with a market capitalization of approximately $2.8T. The 52-week trading range was $196.00 to $287.20. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.